Nanhua Futures opens subsidiary in Britain

Leading Chinese broker Nanhua Futures Co Ltd launched a British subsidiary on Wednesday, aiming to connect Chinese metal companies with the world's oldest metals trading market, which is located in London.

Nanhua has applied to become a member of the 141-year-old London Metal Exchange. After it becomes a member, Nanhua will be able to assist Chinese metals producers and users to trade with their international counterparts.

Luo Xufeng, president of Nanhua Futures, said establishing Nanhua Financial UK was "a big step towards the global market" for the company.